News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Vantiv Strikes $10 Billion Deal to Buy Worldpay

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Vantiv, a major U.S. credit-card processor, will buy U.K. payments firm Worldpay in a deal that would create an industry giant with a market value of more than $20 billion. J.P. Morgan, which confirms it had preliminary interest in Worldpay, says it won't make an offer.

South Africa Plans to Nationalize Central Bank

South Africa's ruling party wants to nationalize the Reserve Bank, a top party officials said, a move that would end its status as one of the few central banks around the world that still has private shareholders.

Lloyds CEO Reshapes Succession Plans With Promotions

Lloyds Banking Group promoted several executives ahead of a strategy revamp and in a bid to appease investors concerned that the bank had too few potential internal replacements for Chief Executive António Horta-Osório.

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Fed Minutes Could Show How Inflation Could Sway Rate Rises

The Federal Reserve raised interest rates last month by a quarter-percentage point and laid out plans to shrink its portfolio of bonds and other assets. Here's what to watch for in the minutes of the meeting to be released Wednesday at 2 p.m. ET.

Many Startups Remain IPO Holdouts

Initial public offerings in the U.S. have rebounded this year, but still holding out are many private companies valued at $1 billion or more, bankers and fund managers say.

Fed Eyes September Announcement on Balance-Sheet Reduction

Fed officials have indicated there is a strong chance they will announce in September a decision to start shrinking the central bank's portfolio, while putting off until December any further interest-rate increase.

RBA's Harper: No Need to 'Scare the Horses' With Rate Hints

Australia's central bank is comfortable holding interest rates steady for now and doesn't share the same need to tighten policy as the Federal Reserve or the European Central Bank, said Reserve Bank of Australia board member Ian Harper.

KKR Credit Advisors Looks at Buying Australia's Pepper Group

KKR has set its sights on Australia's niche shadow banking sector, pitching an offer of about US$498.1 million for listed non-bank lender Pepper Group.

Prosecutors in Martin Shkreli Trial Seek Gag Order

Federal prosecutors in Brooklyn have asked a judge to prevent Martin Shkreli from making public commentary about his ongoing securities-fraud trial, saying the high-profile defendant had "embarked on a campaign of disruption" and was "making a spectacle of himself and the trial."

China to Hold High-Level Meeting Aimed at Streamlining Financial Regulation

China's leadership is set to convene a long-delayed policy meeting late next week to streamline financial regulation, according to people with knowledge of the matter, as curbing risks becomes a priority for Beijing in a year of political transition.

(END) Dow Jones Newswires

July 05, 2017 11:16 ET (15:16 GMT)